The Tide May Be Shifting for Merck as it Crosses Above Its 100 Day Moving Average

The Hourly View for Merck

  • At the time of this writing, MRK’s price is down $-0.03 (-0.03%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Merck has now gone down 5 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Merck. Given that we see downtrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 50 hour changed directions on MRK; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Merck’s hourly price chart is shown below.

MRK

The Daily View for Merck

  • At the time of this writing, MRK’s price is down $-0.72 (-0.94%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Merck.

MRK